Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1887-04-30
A RUN ON THE BANK.
A Committee OF Merchants Help ~ Da-
kofa Banker Through "a Panic


rag across New York man the other
day who l. largely Interested Ia the bank
ing business of Dakota The convers,,-
,ion driitcd into discussion of the char
acter of the people out there They NAV
he rough in their manners" said, he and
uncouth in their way, but they stand by
II man when he i in trouble and they
never forget a friend. had an oppOrtu-
nifty he went on, to test this trait not
many Wears ago The bank OF the town
where WIS stay ing lOund itself greatly
embarrassed one fine day by the failure of
its principal correspondent in the terri
tory. This fact became known late in the
afternoon vi the day that the news of the
failure reached the town. \ run on the
bank the following morning was newt
able. To meet il there was but Sc 900 in
the vaults. The remainder of the assets
could not immediately lie turned into
ready cash.
The president Of the bank was at his
wits end. He didn't know what 10 do.
Morning came and he decided to close the
bank. lie was about 10 give the neccs-
sary orders when iii walked "A committee
of the leading merchants II the place
They asked for an explanation of the sit
~ "A~ SiN'Al ~ lIlfiii anu llkt-
wise an opportunity Ia look at the books.
\ short examination sutIiced To show that
the bank WAS only temporarily embar-
raised They said tu the president, You
open the doors at 10 O'Clock rs usual AMI
pay the dcposi,ors: Wen see you through
this thing. But how are you going To do
it, said the president i have hut
$4,000 here and there are at least $50. 900
n sltnpslrs a. h,a M, laIf 4 hnt
is clamoring on the sidewalk now.
Never mind, you open the bank and 60
ahead. said the committee, and we will
see you through
We'll. the bank was opened md in
rushed the depositors and ont went the
money. The pile of greenbaCks ON the
cashiers desk grew smaller and smaller
and the crowd of depOsitors continued To
increase with every minute. Still the paw
ing at the teller's window went on. On
the sidewalk the people who had drawn
their money were met by some of the
merchants who hal promised to see the
bank through. What are you going tu
Il" with yuur moEey2' they worrld ask. 4
don't know, came the answer Suppose
You leave il with Us: you know our house
and know thai we are responsible. We
tereSt.' TO The farmers for the majority
nf depoSitnr> We're farmers the money
in their pockets where il drew no interest
" IL "f little use; they preferred Of course,
ne nodes and were without difficulty per.
: sadci to part with their money. n,
soon they had received the MONEY the
merchants would deposit il in the bark
The same money was paid over She
three times or oftener in the
course Of the day, and when the INK
closed al O'Clock in the afternoon it had
in lis vaults a. much money rs it had
with in the morning. and with
$4,000 ii had paid over $4,000 of de- /.
p"sits. The promptness with which it .
met tie demands OF the depositors STAYED .
The panic and the next morning there was
not the slightest indication of run. This
Is an absolutely true story" said my in
formant in conclusion for was myself
the president of that bank Now can
Iou match that 10y anything in the cast
Cor. New York Tribune